Zinc Oxide Market Size To Reach $8.1 Billion By 2030

Zinc Oxide Market Growth & Trends

The global zinc oxide market size is expected to reach USD 8.1 billion by 2030, registering a CAGR of 5.7% during the forecast period, as per the new report by Grand View Research, Inc. The growth is majorly driven by the rising consumption of zinc oxide in end-use industries including rubber, tires, cosmetics, paint & coatings, and pharmaceuticals.

There are multiple methods of manufacturing ZnO amongst which indirect and direct methods are mostly practiced by the market players. The indirect or the French process of manufacturing the product is the dominating one owing to its properties, as it is considered the fastest and most productive method of ZnO production.Some of the other processes used in the production of zinc oxide involve spray pyrolysis, hydrometallurgical method, mechanochemical method, and chemical synthesis method.

The major application of ZnO is in the rubber industry wherein it is used as a vulcanizing agent. It is also used as a cross-linking or curing agent for halogen-containing elastomers like polysulfides and neoprene. Zinc oxide also improves the thermal conductivity of rubber by a considerable amount which is crucial for dissipating the heat produced by deformation under load or cyclic stress.

Zinc oxide can be used as an active ingredient in acne treatment products. The product also promotes wound healing and keeps the wounds clean and moist. High surface area ZnO (active grade) can be used in creams for the treatment of fungal infections such as athlete’s foot.

According to Moody’s Corporation, an American financial service company, among the Asia Pacific countries, India witnessed the strongest growth of around 10% in the automotive sector and surpassed Japan to become the third-largest market in the world in 2022. Thus, increasing demand for the automobile will further increase the demand for ZnO in the region.

Players like EverZinc are involved in merger and acquisition activities to meet the high demand for zinc oxide from the end-use industries. Whereas, domestic companies such are Zochem are involved in increasing their production capacities in order to expand their product offerings and eventually increase their market share.

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Zinc Oxide Market Report Highlights

• Powder form segment is projected to grow at the highest growth rate of 5.9% owing to its increasing use in different applications such as batteries, lubricants, friction materials, gold extraction, silver extraction, spray galvanizing, and others

• Liquid zinc oxide also finds applications in sun care and after-sun products, mineral makeup, and anti-aging skin care products

• The indirect process segment dominated the market with a revenue share of over 80.5% as it is considered the fastest and most productive method of ZnO production

• The automobile application segment dominated the market with a revenue share of over 39.5% due to the rising automobile manufacturing globally

• Asia Pacific region is expected to witness the fastest growth rate of 6.4% over the forecast period owing to the growing demand for various end-use industries in the region.

Zinc Oxide Market Segmentation

Grand View Research has segmented the global zinc oxide market report based on form, process, application, and region:

Zinc Oxide Form Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Powder

• Pellets

• Liquid

Zinc Oxide Process Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Indirect

• Direct

• Wet Chemical

• Others

Zinc Oxide Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Automotive

• Construction

• Cosmetics and Personal Care

• Paints & Coatings

• Pharmaceuticals

• Agriculture

• Others

Zinc Oxide Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • U.K.

  • France

  • Italy

  • Spain

  • Netherlands

  • Belgium

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Vietnam

• Central & South America

  • Brazil

  • Argentina

  • Peru

• Middle East & Africa

  • Saudi Arabia

  • South Africa

List of Key Players in the Zinc Oxide Market

• Ace Chemie Zynk Energy Limited

• AG CHEMI GROUP s.r.o.

• CCL

• EverZinc

• Zinc Nacional

• HAKUSUI TECH

• LANXESS

• IEQSA

• Neo Zinc Oxide

• Pan-Continental Chemical Co., Ltd.

• Rubamin

• Tata Chemicals Ltd.

• TOHO ZINC CO., LTD.

• TP Polymer Private Limited

• Upper India

• Weifang Longda Zinc Industry Co., Ltd.

• Yongchang zinc industry Co., Ltd.

• Zinc Oxide Australia

• Zochem, Inc